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tv   Countdown to the Closing Bell  FOX Business  September 11, 2012 3:00pm-4:00pm EDT

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"countdown to the closing bell" begins right now, and here is what you need to know. earlier today the dow hit its highest levels since december 31, 2007. right now we are trading higher by 75 points, 13,329. and we need to cross back above 100 to hit another intraday high, there are the number for you. leading the dow bank of america, alcoa, hewlett-packard, those are the names to watch in the last hour of trading. and wall street honoring the victims of 9/11 today with the help of some bigtime celebrity philanthropists. later this other we're going to take you live to bcg's annual charity day. and, of course, the street's buzzing, they all have an opinion about how any action from the fed will impact your money. we'll get some of those opinions during the hour. let's get right to the guys who know, our floor show.
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traders standing by for you at the new york stock exchange, the cme group and, of course, the nymex. what do you make of, first, this intraday high that we've set? december 2007, do you feel like it's time, are you excited about it, or is this kind of a head fake? >> you know, i think the market is price anything a lot of different factors out there whether it's germany, whether it's additional information coming out of europe, whether it's the fed and qe3. it seems like this has been building up and building up. we've seen the market shift high with plenty of sell signals that have been there, but the longer people watch their profits keep going higher and higher, they're not going to hit the sell button just yet. i think it's going to move higher. we've got a lot of economic cay that this -- data this week, and it just seems there's enough momentum, there's enough energy behind it to keep this market moving higher. cheryl: and hopefully enough volume which is another key indicator of how the markets are feeling.
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let's go to the cme and daniel, want to get your take on what -- on where we're at with the s&p. how do you factor in what bernanke may or may not do come thursday? >> the market has factored it in. they obviously believe there's going to be an ease come tomorrow. i'm not so certain. and even if it does, there's going to be a break in this market. we've had an incredible rally over time, and you may see a little more pop after that announcement, but i'm not willing to buy yet just on the unlikely event he doesn't do anything, you're going to see a pretty decent breakdown here. you could reach in a hard-pressed way down to 1397. i don't think we go that far, but then buy into it because i do like the market fundamentals. cheryl: you see buying opportunities even at that level, that's good to know for all of our viewers. over at the nymex we've got tom reilly standing by. tom, obviously, i want to start with oil because, obviously, as we look at now that summer is
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over, we're moving into the change for the gasoline blends, yet we're still seeing strength in the oil contract. why? >> well, i think what the priest speaker was -- previous speaker was talking about is holding true in the oil markets as well. we're looking for this market to get a pullback, we're not getting it right now. i think people are pricing in that there is going to be a qe3, and if there isn't, we could have a pretty decent pullback as well just like in the equity market. cheryl: cheryl that's an interesting take, every single market we've talked about whether the cme, the nymex, the new york stock exchange, everybody's kind of looking at that big decision from fed chairman ben bernanke. one of the things that's going to affect the dow components if we do get more stimulus, a lot of these companies benefit when you have a weaker dollar. tom rile lay -- reilly says the nymex benefits from that. what kind of decisions are you watchingf we get the stimulus to the economy? >> i think you have to look at
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those household names and the ones that have global presence that are affected by everything that's happening all over the place. just to get back to a point before, i think this fed is forced into doing something on thursday because if they don't, when are they going to do it? we're getting closer and closer to an election. every day is ticking off the clock here, so i think they're being forced into a corner to make a move now, otherwise it might be under a new administration. cheryl: jonathan, hold on, though, forced by traders? forced by market apartments or the economic data? really the economic data in just the past four weeks has been slightly ticking higher whether it's home sales, retail sales, even small business optimism today. he's got to look at all of that. he can't just pull the trigger because he kneels like -- feels like he's got to do it now. he's got to do it if the data tells him to. i'm not so sure, jonathan. >> no, i agree. they've been sitting on these for a long time, and they could have pulled the trigger months or quarter ago and probably made the right decision not to do so,
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but i think there is some political push that's going to force the fed to make some sort of move to get this market to continue to move higher. when main street opens up their portfolio statements at the end of the month, they like to see these numbers keep going higher, and what cothey attribute it to? the president making whatever moves he's said he's made so far. i think both parties are going to hang their hats on any headlines that can help them. cheryl: gentlemen, thanks to all of you, especially jonathan letting me argue with you a little bit today as well. well, there are a lot of big stories to tell you about, so let's shake it up with our team and find out what everybody is watching right now. fox news' steve brown brown is standing by in chicago for us right now, rich edson in washington, jeff flock is in michigan, lauren simonetti is here in our studio. steve brown, i want to start with you out in chicago. how are things progressing with negotiations with the teachers? >> reporter: based on comments, cheryl, of the two
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sides coming out, dade vitali, the school board president and karen lewis, the president of the union, it doesn't seem like they're on the same page. keep in mind, these folks have been negotiating a deal for months and don't seem to have gotten any closer in the last 36 hours. also keep in mind that, apparently, there is on the table from the city a 16% increase in salary over four years. that's a pretty good offer from the outsider's point of view simply because the school district is cash strapped, they are broke. so they're playing with tomorrow's money to try to, hopefully, be able to pay the contract. the teachers say that's not what they're interested in right now. we have found out at one point the teachers' union did request a 35% increase in salary. almost unheard of for a public union in this day and age with so many governments -- and school districts are government agencies -- so cash strapped. so o, cheryl, that's basically
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the situation. it doesn't look like negotiations are moving, and it doesn't look like the two sides are close on a couple of key issues including teacher evaluations and layoff recalls. cheryl: there are so many facets to a fascinating story, steve brown, thank you very much. jeff flock, what are you watching at this hour? >> reporter: i am watching an incredible number. 600,000 jobs in this country, skilled manufacturing jobs and engineering jobs, are going unfilled. i'm at a company called dura automotive. they need people. michigan is ground zero in this need for skilled workers. i've got the hr director, what are you doing to attract people? because they left after the auto downturn, now the auto industry has come back, and you don't have enough people. >> our main focus has been on our sponsorship programs which target high school, junior and senior level students as well as college-aged students, and we pay a portion of their tuition, and they work for us so we develop them, and then they
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commit two years to us at the end of their education. >> reporter: you're actually paying for their education if they'll promise to come to work for you. >> interesting. how about that? michigan was ground zero for problems, now it's ground zero for hiring. and i'll tell you what they're building right there is a huge system that's a paint system for the auto industry. that will go into, actually, a chrysler plant very soon. they're building it right here, right now. cheryl: jeff, i love that you're always behind the scenes of the big stories. let's go over to lauren simonetti, what are you looking at right now? >> i'm on iphone 35 watch, cheryl. -- 5 watch tomorrow. the announcement comes tomorrow, or so we're expecting, and there's this report out by a chief economist essentially saying that iphone 5's going to save the u.s. economy, expecting it to boost q4 gdp here in the u.s. by $3.2 billion or 12.8 billion on an annualized basis, so that's pretty big. stock's down today, that's not
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not typical. i'm a numbers geek, i looked back at the iphone 4 as well as the 4s launch, and both of them saw a decline between half a percent and just about 2% preannouncement. cheryl: okay. so basically everybody rushes out, but as far as the gdp argument, i think the other side has got to be i may spend on a new iphone 5, but i'm not going to buy something else, so i'm not sure if that's going to equate to much. >> yeah. the report, he acknowledged it on the phone, i just got off the phone with him, but it's a great headline, eight million to be sold in the u.s., 20 million globally. cheryl: never underestimate apple, just maybe in this case just a little bit. all right, lauren, that's a great story. all right, peter barnes is standing by in washington. peter, what are you looking at right now? >> reporter: the senate may consider as early as this week its usual grab bag of year-end extensions that congress pretty much approves every year on certain tax breaks. they include some big items like
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patching the alternative minimum tax for millions of middle class families, $130 billion over two years. but thanks to lobbyists and lawmakers from both parties who want to help companies back home, there are plenty of special interest tax breaks they want to extend. take a look here. $78 million for auto race track owners for faster writeoffs on investments. $248 million for movie and tv studios to help keep production in the u.s. when other countries offer deals to poach it. $7 million for tax credits for electric-powered motorcycles to encourage environmental and energy goals. but they did toss out the tax credit for electric golf carts. cheryl: oh, there was a tax -- you know, if i was retired, though, living in florida, i'd take that, right, peter? >> reporter: remember that big story john stossel did about this one, getting a tax credit for getting a golf cart? well, that ginned up a lot of bad publicity. cheryl: certainly did. that's what john stossel is
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great at, getting their attention, and he certainly did. peter barnes out of washington, thank you very much. closing bell going to ring 50 minutes, 5-0 from now. coming up, chris bert l southern manages more than $2 billion. he says you've got to hold these stocks to fight what he is calling the war on retirement. we're going to tell you which ones after the break. ♪
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cheryl: a power moverover the hour, advanced micro devices, shares getting a nice boost after the chip maker announced invest anything a cloud-gaming technology company. the growing video market is reportedly expected to reach $81 billion by 2016. take a look at the stock year to date because this stock right now is actually still down 35% year to date. but anyway, during the intraday trading day today, it's up 28 cents. i do want to show you this, here is your dow 30, some of them in the red, but overall take a look at the dow because we hit a new intraday high today, we were up 70 points, dow 30 at 13,324.
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that is your djia. all right, let's bring in nicole petallides on the floor of the new york stock exchange. all right, nicole, what are you watching? >> reporter: taking a close look here at both citigroup and morgan stanley because they finally have come to agreement on the val wake of smith varney. here are some of the details of this. so morgan stanley's on the full track now to take ownership of morgan stanley smith varney which, by the way, the smith varney will actually be morgan stanley wealth management. so the agreement here and the deal which values the brokerage unit at $13.5 billion actually actuallyremoves restrictions on morgan stanley to buy the rest of the company. the agreement -- citigroup, they have 5% own -- 45% owner shift and this is all pending regulatory approval. this also is a bet on morgan stanley's point as they move into wealth management even more
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so on some good markets ahead. so this is, it also gives some access to funds as well, $48 billion in deposits by 2015. so those are some of the main bullet points of this joint venture agreement. back to you. cheryl: all right. nicole, thank you very much. first reported here on fox business, and there is this first reported by fox business network, a former mf global executive interviewed by investigators looking into the firm's demise suggested that ceo jon corzine was culpable for as much as $1.6 billion in customer money, all that may be enough to file criminal charges. charlie gasparino has the latest on this story. >> well, morgan stanley, i just want to make a couple quick points here. morgan stanley, if they wanted to buy the whole thing right now, the reason they didn't was citigroup was apparently willing to sell at some point early on is because they face an imminent downgrade. i think they only got a two-notch downgrade from s&p or moody's, they're
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interchangeable. one of the rating agencies. they were threatened with a three-notch downgrade if they didn't buy the rest of it. what makes this such a risky gamble, i know the stock's up, markets are not good. people worried about europe, interest rates are still going to remain low, that hurts the returns of a brokerage unit. so this is a very difficult situation. we should point out this story's pretty interesting, mf global, it's been one year since the firm imploded, the missing customer money is still missing, $1.6 billion. a lot of people pointing fingers at jon corzine, we should point out that early on last year when the investigators at the cftc started investigating this, they interviewed the north american cfo, and she point-blank laid the culpability at jon corzine's feet. she even said that he could end up in the jail because of his actions. this is what she told the cftc, she pointed out that neither corzine, norrer is win sky denied she made that statement.
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people have said, listen, he didn't order the improper use of money. i will say that, and i've been sort of following this up throughout the day, criminal charges are still unlikely. cheryl: unlikely? >> difficult, very difficult. cheryl: okay. >> for example, if they get someone like christine or the assistant treasurer who they may try to cut an immunity deal with, there are no documents to back up what they might say about corzine's knowledge and culpability. what we have here is a very good civil case by the cftc a lot of people say. they're still talking about it, they're meeting this week to discuss this case with its commissioners, staff meeting with the commissioners. also lots of lawsuits. we do know that the plaintiffs' attorneys are out there eyeing not jon corzine's net worth because he probably doesn't have $1.6 billion. this firm imploded, it was worth xx now it's worth zero. so plaintiffs' attorneys, people that held the stock, they're going to go after the insurance policy, his dno insurance, and that's what you're going to see
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them doing, basically joining forces with the trustee, james did dobbs, a joint sort of defense or joint attack, i guess, and go after that. we should also point out this kind of other interesting development going on, the house financial services committee doing a report on this. from what we understand, you know, including, you know, the implosion, where's the money and kind of culpability. you know, they're not going to -- they're not like an investigative agency like the securities exchange commission or the cftc -- cheryl: they get on tv when they do this kind of stuff. >> and they point fingers. this report they're going to put out, they say in about a month, you know, the people close to that committee won't give you the exact timing, but they say about the month, and they're essentially going to say this: that corzine was a poor manager, and the loss of customer money was avoidable. they're going to basically say he was innocent as a poor manager -- negative lent as a poor manager. cherl cherl coming from congress? [laughter] >> well -- cheryl: talking of poor management.
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>> i don't know. andy newberger is running this committee. i don't know these people, they aren't -- they didn't lose $1.6 billion in customer money -- cheryl: $16 trillion, anyway -- >> there's a lot of blame to go around including the voters who put those jerks in office. but in any event, we should point out they're going to come out and say this guy's a poor manager, he's somewhat negligible. the loss of money should have been avoidable, but whether they nail him on a criminal charge, they'll go that far. but this is what they know about that report as of now. they do have the statement by christine about the -- and the question is, do they put that statement in the report? cheryl: do they call her? >> i have no idea. they called her already, and her testimony was kind of wishy washy. now, this story's, obviously, not going away. i'm told before the election they'll have this, they'll have this report out. now, you know, fuguer bauer is a republican, you know, jon
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corzine very close to the president, obviously interesting prettial issues. cheryl: charlie gas primo, thank you very much. closing bell going to ring, we now have about 39 minutes to go. chris bertelsen is coming up next to tell you where he's informing ahead of thursday's federal reserve announcement. then live to sandra smith at bcg's charity day in horn of 9/11. in honor of 9/11. >> reporter: oh, we are on the screen. bingo. [laughter] ♪ i've been a superintendent for 30 some years at many
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it's law that just makes sense.
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cheryl: all right, here's your fox business market check. we were flirting with session
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highs, 1:50 eastern time, so a little less than two hours ago, but we've actually had a pullback for all the markets. as you can see the dow, we're up 64 but well off the session high. we had an intraday high that we were marking versus december 2007, so we've got about 33 minutes to go. also the nasdaq now is negative and s&p as well. want to show you burr berry, this stock having its worst market day or this company, the stock falling sharply after the british fashion brand issued a profit warning as the global slowdown softens demand for luxury goods, down 7.97, and then also other luxury retailers are sharing in the pain, tiffany's, which had been a darling of the street but has also been pulling back, coach, ralph lauren, louis vuitton, all of these names moving lower today based on that news coming out of burberry. my next guest says historically low interest rates are weighing on people trying to make money and save what they already are is, but not to worry.
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joining me now in a fox business exclusive, chris bert lton, portfolio manager -- bertelsen. you make an interesting assertion. if there is a war on those that are trying to retire, who's waging this war in your opinion? >> it's the zero interest rate policy. i think there's a lot of hype about apple and the german court decision tomorrow, but the surprise, i think, will be that ben does not go forward with qe3. maybe he trims around the edges, but he will go forward with a zero interest rate policy pretty much. and what it's done is it's really had, as you said, there's a war on seniors and savers and retirees. people who are retiring with modest or meager means suddenly have to look and say, my gosh, how can i live with less than 1% interest rates? cheryl: so you say we're going to be o disappointed tomorrow even though i had guests, the traders saying, no, we're going to get it, you say, not so fast? okay. you're the first person to say
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that. also for those that have retired, a lot of those investors rely heavily on dividend-paying stocks, and one of the issues we have with the fiscal cliff coming is the fact that the dividend, the taxes on dividends are going to jump up to 43%. are you worried about that or no? >> yes, i'm worried about it. it amplifies some of the issues that they've had. i mean, if you look back to 1982 when people could buy a cd at 12%, now all of a sudden they're looking at a situation where whatever they're going to get for income is, as i said, meager at best. so, sure. it's going to be a real problem for people if we go off a fiscal cliff. cheryl: are there name that is you like? obviously, i think most of our viewers that are looking to hopefully retire soon would go for those dividend payers, are there names that you like, a dow component here or there that you favor right now? >> absolutely. one of the segments we like are the telecom stocks. and in a way at&t is an
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embarrassment, i mean, up 23% or so this year, still paying pretty close to 5%. but all of those telecom stocks whether it's telestra in australia, deutsche telecom now, i don't think germany's going into the north sea, so i think what we're seeing is a real opportunity if you take a long-term view. cheryl: at&t, the stock is up about 35% over the past year, but you would still stick with it. you would still buy into it? >> yes. and here's why, over the next five years let's say it's only up a dollar every year, but you're getting a dividend that's slowly increasing, so you're getting 5% compounded plus maybe 10% or 15% at the end of five years, not 35%. but what it means for someone who basically thinks the market is a rigged game, they're going to look at it and say, wow, here's the safety net. cheryl: and deutsche telecom you mentioned that as well, wanted to get that out to our viewers. don't go anywhere, chris bertelsen, private capital portfolio manager, he's going to
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be back with more investing ideas for all of you. well, today we remember the victims of september 11th, 2001, with cantor fitzgerald which lost the victims of september 11th, 2001, with kantor fitzgerald which was 158 employees that day. the annual trading event everyday favoring $77 million. sandra smith is live where traders are working -- you did a great job. looks like fun. sandra: thanks. it has been a day of celebrities flowing and trade flying on the name of charity but the big day they saw at cantor fitzgerald. sandra smith just relayed afraid. we have it. here it is. >> you got more. 750. sell it. sandra: 715! . >> 67 b 3. >> don't make me say it again.
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>> oh. [inaudible] >> 50 -- sandra: 750. my thanks. >> that is a lot of coin. sandra: remember all that goes to trade. $1,750,000,000 trade and all revenues go to charity. many of represented by actors and sports stars. we talked to several including regis philbin and when the johnson. here are a few of them. >> to celebrate the lives, not just 2 more lots that celebrate the lives is important. >> being the history of the united states. >> we lost a lot of people that they in the buildings and lost a
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lot of guys since then fighting on account of that. i am here. didn't get me yet. >> a lot of good people around me here. i don't know what i am doing. billions we are talking, millions so far. >> my first memory was people walking up fifth avenue the wrong way and you can realize the world changed fundamentally at that moment. >> we will make howard law nick ceo, across the index. some great work being done here. cheryl: great stuff. sandra smith. don't miss rudy guiliani tonight at 8:00 eastern time with neil cavuto. he will check his memories of
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9/11. closing bell going to ring 27 minutes from now. retail sales on track for record-breaking year in 2012. coming up next we talked to the chairman and ceo, and getting in on the movement. we asked over 3,000 doctors to review 5-hour energy
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and what they said is amazing. over 73 percent who reviewed 5-hour energy said they would recommend a low calorie energy supplement
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to their healthy patients who use energy supplements. seventy-three percent. 5-hour energy has four calories and it's used over nine million times a week. is 5-hour energy right for you? ask your doctor. we already asked 3,000.
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>> i am adam shapiro. one of the world's largest
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property investors looking for pork barrel. starwood capital looking at sale of minority stake in the company had hired morgan stanley to conduct a search. it manages roughly $19 million in real-estate assets. whistle-blower in the ubs tax fraud case got a pay out from the irs. bradley received $100 million under the whistle-blower program for his role in the case. served time at u.s. authorities determined he withheld information. the digital revolution claims another victim after 94 years. ritz camera going out of business. was once the largest chain of specialty camera shops in the united states but has struggled as consumers shift toward digital photography. we continue count down to the closing bell with cheryl casone. cheryl: for a look at the most actively traded stocks today. let's go to the floor of the
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stock exchange and nicole petallides. nicole: taking a look at the most actively traded stocks. aig is the most actively traded stock and banc of america and sprint answer -- and city, we have up arrows all day long and we have given back hour earlier gains but still nonetheless holding on to gains of 66 points and that he raised yesterday's losses. we have been trending to the downside. i want to look at other names on the move like at&t and coca-cola. two dow components and another thing to notes are commodities like alcoa and halliburton. when you talk about oil and gold and copper and metals alcoa is looking at aluminum and commodities have gotten particularly well. a lot of that is on the talk of the $150 billion infrastructure
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plan in china. that helped them along as well and the weaker dollar plays a factor. nicole: looking to invest in china but worried about slower growth. in 2011 chinese online retailers generated 120 one billion dollars up 66% for 2010. our next guest hopes to profit from that revenue. joining as a fox business exclusive is the chairman and co ceo of the industrial reit. we followed your company for quite some time because of what you do. not what you are seeing globally, online retailers in china need more space. you are the one that is benefiting from that. >> we see that all-around world. china is one example and traditional retail stores are not as developed said there leapfrogging that technology and going to online mode faster than other places but we are seeing it in japan and europe and all
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over. cheryl: isn't china searched to surpass the united states? because of the growing middle-class they are grabbing on to their version of amazon? >> they have four times the population so they will catch up. the u.s. is an important market. >> you mentioned japan. just signed an agreement with an online retailer in japan but we still have that in the back of our minds when we think of japan. is there a turning point? >> an interesting factor affects japan and europe. we have been in both places for a decade. we built the market leading business in japan and europe and made more money than any region in the world but they are the two slowest growing regions in the world. in our business growth doesn't require gdp growth. as long as there's restructuring of the supply chain and new ways of doing business we are there to serve customers. cheryl: amazon is one of your
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customers. are you nervous about the online sales tax? looks like it will the national. >> our working assumption is that will be a level playing field. it makes sense and what it will do is bring some of the larger warehouses that are in remote locations closer to major cities and frankly that plays right in our power because big buildings are in major cities. cheryl: let's talk about latin america. >> brazil is on fire even though the economy is flagging consumption is accelerating. the international retailers and local retailers are taking space. there's a dearth of modern logistics base in brazil. mexico same story. growing middle-class on fire. cheryl: is not north american demand. >> the auto sector coming back health logistic business but the
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real big story is consumption. cheryl: let's talk about europe because you have liquidation in europe but at the same time reporting on the fact that there's a massive slowdown in numbers in europe. a risky move for you. why did you make it? >> europe is the weakest economy in the world. doesn't take a genius to figure out there going through difficult times and it is very much like u.s. economy but there are three fifty million people. by some measures five hundred million people if you get the bigger definition. they still have to each and clothe themselves and their children. that creates a lot of demand. cheryl: you do pay a dividend. stock is up 34%, 36%. any chance you might up that -- >> you're going to have to wait to know the answer but nice try. cheryl: is what i do. thank you very much.
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the chairman and cosi of. closing bell is going to ring in 16 minutes. chris ferguson is up after the break with two dividend payers. that they are absolutely something for you right now. [ owner ] i need to expand
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to meet the needs of my growing business. but how am i going to fund it? and i have to find a way to manage my cash flow better. [ female announcer ] our wells fargo bankers are here to listen, offer guidance and provide you with options tailored to your business. we've loaned more money to small businesses than any other bank for ten years running. so come talk to us to see how we can help. wells fargo. together we'll go far.
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cheryl: here is your fox
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business market check. the dow was up 72 points at 13,327 and liz claman is on her way to silicon valley for three days of interviews with titans of the tech world. let's see how company stocks are doing. tomorrow liz will be at the intel developers conference speaking to everyone including paul otellini and the c e l of pandora. on wednesday a look inside hewlett-packard and talk to the ceo meg whitman. and on friday she is talking to the innovators of slip board along with decisionmakers from sony bloggers electronic arts and stand this. though the your stocks right now. the forget three days in the valley with liz claman does start tomorrow throughout the day. wants to let you know. global financial partners capital portfolio manager and managing director back with more investment ideas. we were talking in the break
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about a lot of people nervous about equities. there are stocks you like. >> look at natural gas plays. it will create a ton of jobs and one of the ways conservatively to play it is true in energy. gives you a yield of 7% and natural gas over the next five years has a small increase they will be at the forefront of being able to profit. cheryl: they hit $40. that is the high over the last year so it is at the top level. would you still buy it? >> absolutely. it has a boring pattern to it but the yield is what makes the stock. cheryl: boring could be good. i was curious about this because of the defense contractor just coming. going to stay with us.
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>> the downside to these companies have been priced in the market. they are very key. lockheed had a great dividend program yielding 5% and the world is a dangerous place. playing on global political risk and it could be beneficial. cheryl: breaking news i got to get to. thank you very much. we are getting breaking news in fox business. i want to go to adam shapiro. >> mark fields from ford is president of americas for ford motor co.. bloomberg reporting field is the ceo 0 at ford. when alan malawi ever announces he is on his way out and ready to hand over the rage that field is being groomed but field has a good history which ford. at one point was in charge of laws the motor co.. in charge of the premier automotive group when ford -- and land rover and volvo and in charge of americans for ford
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motor co.. he is rising within ford. cheryl: i can imagine the thought but interesting news. thank you. closing bell is going to ring in 7 minutes. follow the show. when we come back i will tell you the one stock that is getting a bounce. the ceo stepped down. [ engine revving ] ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just to stay ale... but feel alive. the new c class is no exception. it's a mercedes-benz through and through.
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[ male announcer ] what if you had thermal night-vision goggles, like in a special opsission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. cheryl: so here's what i mentioned to all of you, you know, prior. money manager legging mason's
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ceo stepping down today, that gave the stock a boost, announcing that joseph sullivan is going to step in as the interim ceo, and mark is going to stay on as a consultant until the year's end. before today's jump, shares remained slightly negative and mostly flat over the past year which may have been, frankly, a contributing factor to mark leaving his position. but there's the stock, it's up 1.33, normally you see kind of the reverse. looking at the broader rally, though, energy is the best performing sector in the s&p 500 today. new energy highs we're seeing right now, soler row, phillips 66, chevron, marathon petroleum, even cameron international. all those names are big to watch. the whole space is really just moving. now, as far as the dow, we're actually moving off of the highs right now, we were up 100 points about 1:50 eastern time, david asman, as we go towards the bell with you, unfortunately, we've lost some steam. david: well, what seems to be
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happening is people's expectations of the fed doing something spectacular that's going to move the markets in a major way is not happening. those expectations seem, correct me if i'm gone, cheryl, to be dampening down a little bit. cheryl: you have a 50/50 split, those who say mr. bernanke has to do something, but those who say he won't play politics, he won't play into that debate in washington, and he won't give us anything on thursday. so we'll see. david: some people would say it's a little late for that. thank you very much, cheryl. let's go to nicole at the new york stock exchange. well, let's talk about individual stocks if we can, nicole, and starting with apple. apple wasn't a big mover today, but there's so much buzz about what -- they're coming out with tomorrow, whether it's another ipad, iphone is going to do something unexpected, etc. >> reporter: that's right. it did not get back to highs at 683, but the iphone 5 is coming tomorrow, that's what everybody's say, so we're waiting for that. also at the same time rudy giuliani, former mayor, is here
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on the floor of the exchange. he just left cantor fitzgerald, and there he's up on the podium, obviously, to remember september 11th, 11 years ago. david: rudy is still america's mayor, at least in my heart he is. facebook getting a little bit of a facelift from zuckerberg who's going to be talking about it, the first time he's talked since the ipo, right? >> reporter: we're waiting with baited breath to hear every word, of course, a real leap of faith with him saying he's not selling his shares when he has the ability to do so. david: well, look at the stock, it was up 3.5% as a result of these expectations, so at least that's good. it's about halfway where it was when the ipo started. high-end retail getting a boost today. >> that's right. and burberry gave up profit outlooks that was below expectations. david: oh, look at that. >> reporter: or that the got hit really hard, down around 20%. david: burberry is what knocked it all down, and they


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